Cash Sweep Program pays interest at specific rates based on the tiers below, which yields a blended rate over the entire balance.
As of April 18, 2023 | ||
---|---|---|
Tier | Rate | APY |
$0–$24,999 | 0.46% | 0.47% |
$25,000–$74,999 | 0.47% | 0.47% |
$75,000–$99,999 | 0.48% | 0.48% |
$100,000–$249,999 | 0.49% | 0.49% |
$250,000–$499,999 | 0.49% | 0.49% |
$500,000–$1,999,999 | 0.50% | 0.50% |
$2,000,000+ | 1.16% | 1.17% |
The rates published above are effective as of the date stated on the website. When rates change and new rates become effective, we attempt to update them promptly on our website.
Rates are variable and may change at any time. Each day, we calculate the interest on your cash and add it to your account monthly. We round the daily interest amount to the nearest $0.01. If your daily interest is less than $0.005, then you may not be paid any interest on that day.
As of April 18, 2023 | ||
---|---|---|
Examples | Blended Rate | APY |
$8,000 | 0.46% | 0.47% |
$45,000 | 0.47% | 0.47% |
$75,000 | 0.47% | 0.47% |
$200,000 | 0.48% | 0.48% |
$400,000 | 0.48% | 0.49% |
$750,000 | 0.49% | 0.49% |
$1,500,000 | 0.50% | 0.50% |
$3,000,000 | 0.72% | 0.72% |
$6,000,000 | 0.94% | 0.94% |
To help you get the highest interest rate possible, we combine the Cash Sweep Program funds of all your accounts into one large fund. If you have $10,000 in cash in an individual, retirement, and joint account, we deposit your money as $30,000, rather than three smaller deposits of $10,000. This allows you to reach a higher tier and earn more interest.
An FDIC-insured enhanced-yield deposit designed to provide income on larger cash deposits, safety of capital and next-day access to funds.
As of April 18, 2023 | ||
---|---|---|
Amount Invested | Rate | APY |
$0-$24,999 | 0.00% | 0.00% |
$25,000-$49,999 | 0.93% | 0.93% |
$50,000-$99,999 | 1.63% | 1.64% |
$100,000-$249,999 | 2.32% | 2.35% |
$250,000-$499,999 | 3.02% | 3.07% |
$500,000-$999,999 | 3.49% | 3.55% |
$1,000,000+ | 3.49% | 3.55% |
Interest rates are based on how much cash you deposit using FDIC CASH PLUS. Rates are variable and may change at any time. Each day, we calculate the interest on your cash and add it to your account monthly. We round the daily interest amount to the nearest $0.01. If your daily interest is less than $0.005, then you may not be paid any interest on that day.
The FDIC CASH deposit earns interest at a flat rate on the applicable balance.
As of April 18, 2023 | |
---|---|
Rate | APY |
0.46% | 0.47% |